Total amount raised
$2.2 Billions
Latest funding date
9/1/2023
Location
Cazoo has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in offering a seamless online experience for buying, financing, or renting used cars.
Keep reading to explore the intricacies of Cazoo's fundraising journey and the investors backing this innovative platform.
What Is Cazoo?
Cazoo, founded in 2018 by Alexander Chesterman, is an online platform revolutionizing the way people buy, finance, or rent used cars. Based in London, England, the company offers a seamless online experience, allowing customers to have their chosen vehicle delivered to their door within hours.
With a workforce of 101-250 employees, Cazoo provides a wide selection of nearly new and used cars, including popular models like the Mercedes C-Class and Volvo XC40. The platform also offers car valuation services and comprehensive car advice through articles and buying guides.
Starting from June 27, 2024, the Cazoo brand and website will be managed by Motors.co.uk Limited, ensuring continued innovation and customer satisfaction in the online car marketplace.
How Much Funding Has Cazoo Raised?
- Seed Round
- Amount Raised: £30M
- Date: December 2018
- Lead Investors: Stride.VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and build initial infrastructure.
- Venture Round
- Amount Raised: £25M
- Date: September 2019
- Lead Investors: dmg ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance the platform's capabilities.
- Venture Round
- Amount Raised: £25M
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and improve customer experience.
- Venture Round
- Amount Raised: £100M
- Date: March 2020
- Lead Investors: dmg ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and market expansion.
- Venture Round
- Amount Raised: $31M
- Date: June 2020
- Lead Investors: Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and expand inventory.
- Series D
- Amount Raised: £240M
- Date: October 2020
- Lead Investors: BlackRock, D1 Capital Partners, Fidelity, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance customer offerings.
- Post-IPO Equity
- Amount Raised: $800M
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support public market entry and further expansion.
- Post-IPO Debt
- Amount Raised: $630M
- Date: February 2022
- Lead Investors: Viking Global Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and expansion in the UK and EU.
- Post-IPO Debt
- Amount Raised: $200M
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position and support strategic initiatives.
Total Amount Raised: $2.056B. Current Valuation: Not publicly disclosed.
Key Investors
- Stride.VC
- Details: Stride.VC is a venture capital firm based in London, focusing on early-stage investments. It was founded by Fred Destin and Harry Stebbings.
- Investment Focus Areas: Technology, consumer, enterprise software.
- Notable Investments: Deliveroo, Zoopla, Bulb.
- dmg ventures
- Details: dmg ventures is the venture capital arm of Daily Mail and General Trust plc, investing in early-stage companies. It aims to support innovative businesses with high growth potential.
- Investment Focus Areas: Media, technology, consumer.
- Notable Investments: Zoopla, Yopa, OpenRent.
- Molten Ventures
- Details: Molten Ventures, formerly known as Draper Esprit, is a leading venture capital firm investing in high-growth technology companies. It is based in London and Dublin.
- Investment Focus Areas: Technology, healthcare, fintech.
- Notable Investments: Trustpilot, Revolut, Graphcore.
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is one of the world's largest asset managers.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Apple, Microsoft, Amazon.
- Viking Global Investors
- Details: Founded in 1999, Viking Global Investors is a global investment management firm managing over $40 billion of capital. It has offices in Greenwich, New York, Hong Kong, London, and San Francisco.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Stripe, Instacart, SpaceX.
What's Next for Cazoo?
As Cazoo looks to the future, the opportunities are vast. The company is poised to expand into major European markets like France, Germany, Italy, and Spain, tapping into a total addressable market valued at over £475 billion. This growth is driven by the increasing shift towards online car buying and selling, a trend that shows no signs of slowing down.
To capitalize on these opportunities, Cazoo may seek additional funding to support its ambitious expansion plans. The substantial market potential and strong investor confidence suggest that future capital raises are likely. However, the road ahead is not without challenges. Managing rapid growth, ensuring a steady vehicle inventory, and navigating regulatory landscapes in multiple countries will be critical hurdles to overcome.
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